Houston’s outskirts keep attracting developers

Land developers increasingly are staking claims on land farther from the city limits to satisfy demand for new homes.

Johnson Development Corp. announced Thursday that it recently purchased 1,619 acres in northwest Harris County, just south of U.S. 290 and outside the newly expanded Grand Parkway, Houston’s outermost transit ring.

The developer, whose projects include Cross Creek Ranch, Fall Creek, Riverstone and Sienna Plantation, purchased the acreage from local investment group Rockspring Capital.

There are no immediate plans to develop the site, according to an announcement, but Rockspring CEO Jim McAlister said the property is in the path of growth.

“Houston’s economic resiliency continues to be on full display as more land is being developed into large residential communities to house Houston’s continued growing population,” McAlister said in a statement.

Johnson Development declined to provide details about the acqui-

sition or future plans.

In another notable, farflung project, the developer of The Woodlands will create a new community 13 miles past its signature housing development — which itself is 27 miles from downtown.

Dallas-based Howard Hughes Corp. is developing The Woodlands Hills on 2,055 acres west of Interstate 45 stretching into the Willis area. The project was noted in an investor presentation contained in a public filing made in May, and the company is planning a public announcement on the project later this month.

“We believe our new project is positioned very well for the future of north Houston,” said Paul Layne, executive vice president for master planned communities with the Howard Hughes Corp.

The development is expected to focus on quality of life and cater to people who work in The Woodlands but might not be able to find or afford a house there.

“This site is right down the road from Lake Conroe,” Layne said. “There are excellent schools close by.”

Another nearby community, the former Camp Strake Boy Scout property, is now Grand Central Park, also a Johnson Development project. Singlefamily homes there start in the $290,000 to $300,000 range.

Overall, Houston’s newhome market remains in “good shape” and is still one of the hottest in the country, said Lawrence Dean, regional director in Houston for Metrostudy.

“The challenge is getting pricing back aligned with buying power of most residents,” he said.

After the recession, the home building industry focused on move-up housing, as demand from firsttime buyers fell away.

“There’s been a lot of energy in the last year and a half or so to rectify that situation,” Dean said. “Builders are trying to build more efficient product that fits on a narrower lot.”

A report released Thursday from the Real Estate Center at Texas A&M University notes the lack of supply of moderately priced homes across Texas.

“The Federal Housing Finance Agency Housing Price Index shows Texas homes are 43.1 percent more expensive than they were in 2007,” research economist Luis Torres said in astatement. “Nationally, prices are uponly 7.4 percent.”